Besra's gold export licence renewed

Besra had invested more than $115 million in Bong Mieu and Phuoc Son (Besra Viet Nam) in the Quang Nam Province.— Photo Besra

QUANG NAM (VNS) — Besra has been granted a renewal of its licence to export gold from Viet Nam, a source from the company confirmed to Viet Nam News Saturday.

The licence, issued by the State Bank of Viet Nam, permits the company to export gold from its operations in the central province of Quang Nam.

Commenting on the licence renewal, Besra CEO John Seton said, "We have reached agreement or are nearing resolution on most matters. The retrospective export tax assessment is expected to be resolved in Besra's favour in the next month. "

"We are grateful for the ongoing support of the government of Viet Nam for Besra and its current and future operations," said Seton.

Last year, Phuoc Son Gold Company Ltd under Besra Gold Inc – a Canadian-Australian joint-venture corporation – owed approximately US$19 million to contractors, the bank and the government.

The company has invested more than $115 million in Bong Mieu and Phuoc Son (Besra Viet Nam) in Quang Nam Province.

Besra Viet Nam's gold production from its two plants reached 60,187 ounces last year, according to officials. — VNS